Murrey Math Lines 12.12.2016 (EUR/USD, GBP/JPY)
12.12.2016
Analysis for December 12th, 2016
EUR USD, “Euro vs US Dollar”
The EUR/USD pair is falling inside the “oversold zone”. Earlier, Super Trends formed “bearish cross”. If later the price breaks the -2/8 level, the lines at the chart will be redrawn
At the H1 chart, the pair s being corrected under Super Trends. On Monday, the price may start a short-term growth towards the 2/8 level. Later, the market may resume its descending movement and break the 0/8 level.
GBP JPY, “Great Britain Pound vs Japanese Yen”
The GBP/JPY pair is trading above the H4 Super Trend and the 6/8 level. The closest target for bulls is at the 7/8 level. If later the price rebounds from this level, the market may start a new descending correction.
At the H1 chart, the current ascending movement is supported by the H1 Super Trend. If the pair is able to stay above the 6/8 level during the day, the next target for bulls will be at the 8/8 one. As a result, on Monday the market may reach a new local high.
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